Russian gas imports to the EU last year accounted for 45 per cent of the bloc’s gas imports and almost 40 per cent of its total consumption
Amid the human toll and rubble left behind by Russia’s invasion of Ukraine, Europe’s energy relationship with MoscowA continent that for decades has been reliant on fossil fuels from Russia is undergoing a seismic shift in its thinking, with long-standing
Russia has been steadily strengthening its grip on EU energy markets for decades, and imposing sanctions on Russian fuel would mean loosening those ties. Industry experts point to a possible two-pronged planFirst, switch to buying gas from the likes of Azerbaijan, Qatar, the United States and Algeria. Then, request that AsianLast year alone, the EU imported about 140 billion cubic metres of gas by pipeline from Russia, and about 15 billion cubic metres of liquefied natural gas.
Simone Tagliapietra, an expert in international energy issues at Bruegel, a European think tank, pegs Europe’s purchases of natural gas from Russia at around €800-million each day. And he thinks oil and gas sanctions are a distinct possibility. It’s not just about money. The EU will also need to tackle practical problems, such as increasing solar panel manufacturing capacity and finding qualified installation workers.
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